A trader marked an article 50% above its cost price and sold it after allowing a discount of 30%. If the transaction resulted in a profit of Rs. 26, then find the cost price of the article
Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.5 = Rs. ‘1.5x’ Selling price of the article = 1.5x × 0.7 = Rs. ‘1.05x’ Profit = 1.05x – x = Rs. ‘0.05x’ ATQ; 0.05x = 26 So, x = 520 Therefore, cost price of the article is Rs. 520.
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